Bitcoin Short Term Bottom Coming

14 בינו׳ 2015

Looking at the indicators that I use and the chart for Bitcoin I am still bearish and don't think the bottom is in. However I expect some kind of bounce of the $210-200 level. There are a few reason for this but the main ones are the RSI i s nearing resistance on the multi month trendline down. Also MACD is extremely oversold and there is a pocket on the volume profile that might need to be touched around $250. I would not be surprised if we touch 250 and get rejected.